Icici Bank, Maruti Suzuki Helps Sensex Smartly Recover Some of the Initial Losses

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: Indian equities benchmark BSE Sensex and NSE Nifty50 started the week deep in the red track weakness across global markets as investors continued to worry about worsening inflation and fears it could trigger faster-than-expected pandemic rate hikes. Losses across most sectors dragged down the overall indices. Gains in the heavyweights ICICI Bank and Maruti Suzuki provided some support. Wider markets were also in the red, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling about 1.5 percent each. Globally, the Fed’s haughty tone and updates on the Russia-Ukraine war and rising COVID infections in parts of the world remained on investors’ radar.

First published: IS

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